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Copy of Why Should You Save?
02 Feb 2021
Why Should You Save? Saving is important. The list of reasons should motivate one to start saving. Savings should be stored in a safe place, preferably a bank or saving institution which will allow you to: Earn interest and help your money grow; Reduce the temptation of spending irresponsibly; Make safer payments that are less time consuming and less expensive; Establish a relationship with the Bank; Enjoy services offered by banks such as access to loans; Have enough funds to cover living expenses in the event of a disaster or sickness; Pay for university/college expenses, wedding, buying a home and for a comfortable retirement, among others. Develop a habit of saving.Read the Full Story
 
 
 
 

BOG FINANCIAL LITERACY PROGRAM

Why Should You Save?

 

 

Saving is important. The list of reasons should motivate one to start saving. Savings should be stored in a safe place, preferably a bank or saving institution which will allow you to:

  • Earn interest and help your money grow;
  • Reduce the temptation of spending irresponsibly;
  • Make safer payments that are less time consuming and less expensive;
  • Establish a relationship with the Bank;
  • Enjoy services offered by banks such as access to loans;
  • Have enough funds to cover living expenses in the event of a disaster or sickness;
  • Pay for university/college expenses, wedding, buying a home and for a comfortable retirement, among others.

Develop a habit of saving.

Why Should You Save?
02 Feb 2021
Why Should You Save? Saving is important. The list of reasons should motivate one to start saving. Savings should be stored in a safe place, preferably a bank or saving institution which will allow you to: Earn interest and help your money grow; Reduce the temptation of spending irresponsibly; Make safer payments that are less time consuming and less expensive; Establish a relationship with the Bank; Enjoy services offered by banks such as access to loans; Have enough funds to cover living expenses in the event of a disaster or sickness; Pay for university/college expenses, wedding, buying a home and for a comfortable retirement, among others. Develop a habit of saving.Read the Full Story
 
 
 
 

BOG FINANCIAL LITERACY PROGRAM

Why Should You Save?

 

 

Saving is important. The list of reasons should motivate one to start saving. Savings should be stored in a safe place, preferably a bank or saving institution which will allow you to:

  • Earn interest and help your money grow;
  • Reduce the temptation of spending irresponsibly;
  • Make safer payments that are less time consuming and less expensive;
  • Establish a relationship with the Bank;
  • Enjoy services offered by banks such as access to loans;
  • Have enough funds to cover living expenses in the event of a disaster or sickness;
  • Pay for university/college expenses, wedding, buying a home and for a comfortable retirement, among others.

Develop a habit of saving.

Educators work to include a wide array of studies within the required curriculum for young adults. However, there’s a key component of life in which students of all ages aren’t gaining enough knowledge: financial literacy. Now…you may be asking yourself, “What is financial literacy?” That’s a great question. Even though financial literacy is crucial to successful “adulting,” a mere 17 states require high school students to take a course on financial literacy. These courses have proven to have a direct impact on a student’s ability to make wise financial decisions. Plus, students who have some personal finance classes under their belts are much more likely to successfully save money, budget wisely and invest smarter.

 

Even though financial literacy is crucial to successful “adulting,” a mere 17 states require high school students to take a course on financial literacy. These courses have proven to have a direct impact on a student’s ability to make wise financial decisions. Plus, students who have some personal finance classes under their belts are much more likely to successfully save money, budget wisely and invest smarter.

https://www.fastweb.com/student-life/articles/the-5-key-components-of-financial-literacy

 

Financial Literacy in Decline

As consumer habits and financial products change, financial literacy has taken a blow. In past generations, cash was used for most daily purchases; today, it's rarely flashed—particularly not by younger shoppers. The way we shop has changed as well. Online shopping has become the top choice for many, creating ample opportunities to use and overextend credit—an all-too-easy way to accumulate debt, and fast.

 

https://www.investopedia.com/articles/investing/100615/why-financial-literacy-and-education-so-important.asp

 

Important: The information on this website does not constitute legal, financial or other professional advice but provides information for general reference purposes only. Every effort is made to ensure that the information given herein is of sound quality but no legal responsibility is accepted for any errors, omissions or misleading statements in the information, caused by negligence or otherwise.